Uniswap's UNI token crossed the $4.00 threshold for the first time since early May, driven by a surge in institutional buying. This marks a notable shift after Wintermute moved over $1 million worth of UNI across major exchanges, signaling accumulation rather than selling.
A wallet linked to Cumberland amassed $6.12 million in UNI before passing the entire stake to Monetalis, highlighting a pattern of hefty purchases among key players. Such consecutive transactions suggest growing investor confidence aiming for a breakout that extends beyond short-term gains.
Buyers have persistently absorbed UNI tokens offered on exchanges, preventing any significant selling pressure. The 90-day Spot Taker Cumulative Volume Delta confirms that market orders favor accumulation. Instead of pulling back after breaking $4.00, buyers have maintained control by consistently soaking up liquidity as it appears in order books.
UNI Faces key Test Around $4.00
Surpassing resistance marks only the beginning. UNI’s ability to hold above $4.00 will determine if this breakout evolves into a sustained upward trend. The price continues to respect a rising trendline that supported each dip in July, maintaining a series of higher lows.
The RSI reading stands at 65.49, indicating solid buying momentum with room to grow before reaching overbought levels. The relative stability of this indicator implies the rally is powered by steady participation rather than overly enthusiastic buyers.
If $4.00 holds as new support, UNI could push higher. Should it falter, a retreat to around $3.66 remains possible, aligning with previous support and the ascending trendline.
Looking ahead, a cluster of short liquidation orders between $4.05 and $4.15 suggests volatile price action may intensify in this zone. Pushing through these levels could trigger forced liquidations that propel a further surge, with exposure building up to the $4.40 range.
This material is for informational purposes and not financial advice.
